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SL Green Realty Corp. Reports Fourth Quarter And Full Year 2012 FFO Of $1.16 And $5.35 Per Share Before Transaction Costs And EPS Of $0.22 And $1.74 Per Share

Stocks in this article: SLG

Net income attributable to common stockholders totaled $20.0 million, or $0.22 per diluted share, for the quarter ended December 31, 2012, compared to $2.8 million, or $0.03 per diluted share, for the same quarter in 2011. Full year net income attributable to common stockholders totaled $156.0 million, or $1.74 per diluted share, for the year ended December 31, 2012, compared to $617.2 million, or $7.33 per diluted share, for the year ended December 31, 2011.

Operating and Leasing Activity

For the fourth quarter of 2012, the Company reported revenues and operating income of $350.7 million and $180.2 million, respectively, compared to $328.9 million and $167.5 million, respectively, for the same period in 2011. For the year ended December 31, 2012, the Company reported revenues and operating income of $1.4 billion and $834.0 million, respectively, compared to $1.3 billion and $702.4 million, respectively, for the same period in 2011.

Same-store cash NOI on a combined basis increased by 3.8 percent to $173.6 million for the quarter ended December 31, 2012 as compared to the same period in 2011, after giving consideration to 1515 Broadway as a consolidated property and 521 Fifth Avenue as an unconsolidated joint venture. After giving effect to these same adjustments, consolidated property same-store NOI increased by 3.8 percent to $147.7 million and unconsolidated joint venture property same-store NOI increased 3.4 percent to $25.9 million.

Same-store cash NOI on a combined basis increased by 4.8 percent to $684.2 million for the year ended December 31, 2012 as compared to the same period in 2011, after giving consideration to 1515 Broadway as a consolidated property and 521 Fifth Avenue as an unconsolidated joint venture. After giving effect to these same adjustments, consolidated property same-store cash NOI increased by 4.7 percent to $580.9 million and unconsolidated joint venture property same-store cash NOI increased 4.9 percent to $103.4 million.

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